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NIFTY- UUUUUUU turn possibilities in the range of.....

 
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Author NIFTY- UUUUUUU turn possibilities in the range of.....
veerappan
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Post: #1   PostPosted: Sun Jan 24, 2010 8:23 am    Post subject: NIFTY- UUUUUUU turn possibilities in the range of..... Reply with quote

hi,
again chennai boy,
nifty fut may test the lower side of 4728-4805 range...it may take a UUUUU
turn take care....shorters...still i bear grip only.... when it bounces it may very sharp VVVVV shape recovery with UUUU turn....keep the stop losses
in profit side...dont loose the profits.....

let us c in this week its taking a UUUU turn or not.....in my ranges....

bye bye & BUY in the range of 4728-4805 with 25% .....
chennai boy
veeru
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amitdate76
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Post: #2   PostPosted: Sun Jan 24, 2010 7:17 pm    Post subject: pullback seen on friday. Reply with quote

Hi Verru,

I know you work only with levels but still wanted to highlight what i saw on charts for most nifty stocks.

1. Although Dow closed in deep red on friday night, many stocks in nifty had already showed a massive pullback on friday (although some of them like suzlon still look weak). Fertlizer stocks like NFL, RCF pulled back to close positive.

2. a typical bullish morning star pattern or a hammer was seen on many stocks and nifty respectively.

3. Option open interest: very high open interest seen on Nifty 5000 strike PUT which was the case from the start of this series.

4. 100% retracement of 21 dec fall done & 50% retracement of 3rd Nov fall placed at 4938

Lets see how things pan out on Monday.

Thanks,
Amit
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